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Turkey takes step in creating local credit rating agency

Turkey took a step forward in establishing a local credit rating agency by taking over an 85 percent share of the JCR Eurasia credit rating agency...
Business

Turkey’s central bank to boost lending in specific sectors: report

Turkey’s central bank is set to adjust a tool it introduced this summer to boost lending in specific sectors of the recession-hit economy, starting by tweaking...
Business

Turkey’s Atlasjet suspends flights until Dec. 21 due to financial problems

Turkish airline company Atlasjet has suspended its flights as of Tuesday until Dec. 21, saying the transfer of flights to İstanbul’s new airport had caused it...
Business

Erdoğan urges central bank to continue interest rate cuts: report

Turkish President Recep Tayyip Erdoğan urged the central bank on Tuesday to continue slashing interest rates, after it already cut them by 1,000 points since July,...
Business

Turkish, Qatari central banks raise swap agreement limit to $5 billion: report

The overall limit of a swap agreement between the Turkish and Qatari central banks has been increased to a $5 billion equivalent of lira and riyal,...
Business

Mnuchin met with Erdoğan, top Turkish officials amid Halkbank probe

US Treasury officials have confirmed that Secretary of Treasury Steve Mnuchin recently attended a White House lunch with Turkish President Recep Tayyip Erdoğan, the Courthouse News Service...
Business

Turkish parliament passes legislation hiking income tax rate for high earners: report

Turkey’s parliament late on Thursday passed new laws on tax regulation including higher rates for high earners and hotel accommodation, and new taxes on digital services, Reuters...
Business

OECD revises 2019 Turkey GDP forecast from contraction to growth

The Organization for Economic Co-operation and Development (OECD) on Wednesday revised its 2019 gross domestic product (GDP) predictions for the Turkish economy, anticipating 0.3 percent growth instead...
Business

Turkey’s consumer confidence index moves up in November

Turkey’s consumer confidence index has risen to 59.9 points in November, the Diken news website reported on Thursday, citing a release by the Turkish Statistical Institute (TurkStat)...
Business

Turkey’s Halkbank seeks to challenge US jurisdiction before entering plea to charges: report

Turkey’s state-owned Halkbank, which US prosecutors have criminally charged with helping Iran evade sanctions, said it should be able to challenge whether US courts...
Business

Turkey’s central bank tops list of corporate taxpayers in 2018: report

The Turkish Central Bank topped the list of leading corporate taxpayers in 2018 according to the Turkish presidency, with Rahmi Koç, the honorary chairman of Koç...
Business

Turkey’s Erdoğan pledges more interest rate cuts next year

President Recep Tayyip Erdoğan has pledged that the country’s interest rates would see a deeper cut in 2020, calling on businessmen around the world to invest...
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